French fashion brand Yves Saint Laurent Parfums SA stepped into the metaverse space with a trademark file of its name and logo. The trademark applications filed on January 12th covers NFT-backed Media and virtual makeup.
As stated in the trademark application document, the company plans to offer downloadable and recorded virtual goods and downloadable multimedia files. These computer programs would feature “perfumery, toiletries, cosmetics, make-up, skin care preparations, body care preparations, face care preparations, hair care preparations, and hair color preparations.” Suggesting sales in the metaverse and other online virtual environments.
The downloadable multimedia files would contain artworks, text, audio, and videos authenticated by NFTs.
Yves Saint Laurent also plans on featuring online store services for retail and wholesale. The online store services would feature “virtual goods namely
perfumery, toiletries, cosmetics, make-up, skin care preparations, body care preparations, and face care preparations, hair care preparations.
In recent times, projects including fashion brands seem to be embracing crypto and NFT-related measures to improve user value. Despite the NFT market decline in 2022, brands made their way into the space, especially with NFT-related trademark files.
Famed brands like Gucci, Lacoste, and Tiffany & Co have launched strategies showing involvement in NFTs and blockchain technology. However, these brands looking at their utility have a longer-term benefit offer to users and are pressing to not be left out in the new trends in technology (web3), store of value (NFTs), and payments systems (crypto tokens).
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